Is Your Workforce Fully Effective and Productive? Harbor can help.
Recent Labor Statistics indicate Companies have been facing stagnating productivity for more than a decade. By one estimate, lost productivity costs U.S. businesses $1.2 trillion annually.
Harbor will assist your company in improving the effectiveness and productivity of your organization through your people. Each employer is unique and we take an approach that integrates HR, finance and risk perspectives to focus on the specific levers that can have a meaningful impact for your organization.
The management of a company’s most valuable expensive and strategic asset is their workforce. Effective workforce management will allow a company to achieve controlled labor costs, improve productivity and minimize compliance risk.
In today’s economy companies are challenged to develop and implement an agile and flexible workforce. To accomplish this goal there is a heavy reliance on the interpretation of available data. A correct assessment will allow managers to be better prepared to make strategic and tactical decisions. This will enable a company to execute both short and long term strategies which are necessary for profitability and growth.
Working with your team we identify the key performance indicators for your business and its critical workforce segments. We then look across the major contributors to workforce productivity – talent strategy, talent attraction and development, culture and engagement, rewards, well-being and managing human capital risk. Once identified we focus on critical gaps and areas with the greatest potential for improvement. Then we help you establish priorities, build and execute plans, and monitor progress to ensure sustainable improvement over time.
Our experience has identified 4 Key Areas that are integral for ongoing workplace effectiveness
Employees appreciate meaningful, insightful and constructive feedback on an ongoing basis. Effective communication reduces errors and builds confidence. A lack of effective communication will frustrate employees and make them feel less important. Inadequate feedback typically leads to increased errors and lower overall productivity. Feedback mechanisms need to be developed in collaboration with employees to ensure that they fit both the needs of management and employees.
Train, train, and train some more
There is a common myth that once a company that invests in training their employees, the company will lose them to other organizations. In fact the opposite has been borne out by surveys. Companies that offer a robust training programs typically have lower turnover rate. Harbor will assist you in developing a cost effective training program that provides for employee growth and engagement. (See our section on Training and Development for further information)
In many cases nonmonetary recognition increases energy, excitement, loyalty and motivation. These non-financial factors may include recognition, exposure to new challenges, positive feedback and new learning opportunities. Awards and profiles in organizational communications (newsletters, all-hands meetings, etc.) demonstrate that management values and reinforces achievement. Harbor will work with your team in formulating a program that can provide an additional boost.
Innovation excites employees and is a requirement today marketplace. Innovation both in solutions, services and in business processes increases efficiency. Harbor will assist management in developing processes, training, measurements and incentives that support continuous innovation across the workforce. Employees are often the best source of new ideas and methods of driving efficiency.